Repsol splits top management roles

|About: Repsol S.A. ADR (REPYY)|By:, SA News Editor

Repsol (REPYY, REPYF) says it is dividing its leadership by naming Josu Jon Imaz to a newly created CEO position; Antonio Brufau will continue to serve as chairman, a post he has held for a decade.

Repsol says the change at the top reflects a shift toward a new growth strategy after settling its dispute with Argentina over the expropriation of YPF.

The appointment appears to set up Imaz to eventually take over Repsol's management after Brufau retires.